Construction output in South Korea decreased 6.9 percent from a year earlier in August 2019, following a revised 7 percent decline in the previous month. Building construction plunged 11.1 percent (vs -9.2 percent in July), whereas civil engineering rose 7.3 percent (vs 0.3 percent in July). On a monthly basis, construction output grew 0.3 percent. Construction Output in South Korea averaged 1.65 percent from 1998 until 2019, reaching an all time high of 25.70 percent in September of 2001 and a record low of -30.50 percent in August of 1998.
Construction Output in South Korea is expected to be -4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in South Korea to stand at 0.50 in 12 months time. In the long-term, the South Korea Construction Output is projected to trend around 3.20 percent in 2020, according to our econometric models.